Aditya Birla group company Hindalco Industries on February 10 reported a 76.2 percent year-on-year (YoY) jump in December quarter standalone net profit to Rs 340 crore.
In the corresponding quarter of the previous financial year, the profit was Rs 193 crore.
The number, however, came lower than the market expectations as a CNBC-TV18 poll had estimated it at Rs 380 crore.
Standalone revenue in Q3 FY21 stood at Rs 11,351 crore, up 11 percent YoY from Rs 10,230 crore. A CNBC-TV18 poll had estimated revenue at Rs 9,350 crore.
Standalone EBITDA rose 16.7 percent to Rs 1,182 crore against Rs 1,013 crore YoY. The standalone EBITDA margin grew to 10.4 percent against 9.9 percent YoY.
A CNBC-TV18 poll had estimated EBITDA at Rs 1,140 crore and EBITDA margin at 12.2 percent.
Copper sales for the quarter stood at 73 kt, lower than the sales of Q3 FY20 which were at 84 kt, due to a planned maintenance shutdown in one of the smelters.
Aluminium sales stood at 315 kt against 328 kt in the year-ago.
Net sales of Novelis in Q3 FY21 stood at $3.2 billion, up 9 percent sequentially, on account of higher shipments, LME and market premiums. The Hindalco subsidiary saw an all-time high adjusted EBITDA at
$501 million in Q3 FY21, up 10 percent sequentially.
In consolidated terms, Hindalco's PAT stood at Rs 1,877 crore, up 77 percent YoY and up 385 percent quarter-on-quarter (QoQ).
Consolidated business EBITDA stood at Rs 5,242 crore, up 40 percent YoY and up 12 percent QoQ.